Company Overview
Nordea is a leading universal bank in the Nordic markets, offering a comprehensive range of banking and financial products and services to household and corporate customers.
The company's primary mission is to enable dreams and aspirations for a greater good, while its core values include being personal, expert, and responsible. Nordea strives to be the preferred financial partner for individuals, families, businesses, and institutions across the Nordic region.
Key Products/Services
Nordea's product portfolio includes household banking services such as mortgages and consumer loans, credit and debit cards, and a wide selection of savings, life insurance, and pension products. The company also offers corporate banking services, including business loans, cash management, payment and account services, risk management products, and advisory services.
For households, Nordea's products aim to provide easy and convenient day-to-day banking and advice for life's bigger financial decisions. For businesses, the company offers a range of solutions to support growth and development, including financing, cash management, and risk management products.
Benefits
Nordea's products and services are designed to provide customers with valuable advice, global reach, and competitive sustainability offerings. The company's focus on digitalization and innovation enables customers to manage their finances more efficiently and effectively.
For businesses, Nordea's solutions aim to support growth and development, while also providing a trusted partner for financial needs. The company's expertise in risk management and advisory services helps businesses navigate complex financial decisions.
Sustainability Focus
Nordea has made significant progress in its sustainability efforts, with a focus on supporting customers' transitions to net zero. The company offers a range of ESG (Environmental, Social, and Governance) services and solutions to help customers manage their environmental impact.
The company's commitment to sustainability is reflected in its strategic plan, which aims to deliver a return on equity of greater than 15% each year through to 2030, while also reducing its carbon footprint and promoting financial inclusion.
Valuation
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Number of Shares (million) | 3674.0 | 3534.0 | 3508.0 | 3433.0 | 3411.0 | 3411.0 | 3411.0 |
| Target Valuation (MEur) | 76756.1 | 84984.2 | 83212.0 | 94199.1 | 87894.0 | 92603.1 | 92603.1 |
| Targer Price | 20.89 | 24.05 | 23.72 | 27.44 | 25.77 | 27.15 | 27.15 |
| Potential, % | 108.3 | 114.2 | 124.8 | 70.6 | 51.8 | 59.9 | 59.9 |
| Recommendation | Buy | Buy | Buy | Buy | Buy | Buy | Buy |
| MCAP (MEur) | 36850.2 | 39672.7 | 37009.4 | 55219.8 | 57901.7 | 57901.7 | 57901.7 |
| Price | 10.03 | 11.23 | 10.55 | 16.08 | 16.97 | 16.97 | 16.97 |
| EV | 36850.0 | 39673.0 | 37009.0 | 55220.0 | 57902.0 | 57902.0 | 57902.0 |
| P/S | 3.78 | 3.38 | 3.06 | 4.7 | 4.83 | 4.82 | 4.85 |
| EV/S | 3.78 | 3.38 | 3.06 | 4.7 | 4.83 | 4.82 | 4.85 |
| EV/EBIT | 7.52 | 6.1 | 5.48 | 8.78 | 9.11 | 9.03 | 8.99 |
| P/E | 8.42 | 8.04 | 7.32 | 11.41 | 11.48 | 11.28 | 11.24 |
| P/B | 1.19 | 1.27 | 1.14 | 1.7 | 1.72 | 1.49 | 1.32 |
| P/OCF | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| EV/OCF | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| P/FCF | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| EV/FCF | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Income Statement
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Revenue | 9750.0 | 11743.0 | 12084.0 | 11743.0 | 11987.9 | 12022.0 | 11945.0 |
| Rev. Growth, % | 1.4 | 20.4 | 2.9 | -2.8 | 2.1 | 0.3 | -0.6 |
| Ebit | 4898.0 | 6505.0 | 6754.0 | 6289.0 | 6354.4 | 6415.6 | 6439.1 |
| Ebit Growth, % | -1.5 | 32.8 | 3.8 | -6.9 | 1.0 | 1.0 | 0.4 |
| Ebit, % | 50.2 | 55.4 | 55.9 | 53.6 | 53.0 | 53.4 | 53.9 |
| Profit | 4377.0 | 4934.0 | 5059.0 | 4840.0 | 5045.1 | 5132.5 | 5151.3 |
| EPS | 1.19 | 1.4 | 1.44 | 1.41 | 1.48 | 1.5 | 1.51 |
| Profit Growth, % | 14.3 | 12.7 | 2.5 | -4.3 | 4.2 | 1.7 | 0.4 |
| Profit, % | 44.9 | 42.0 | 41.9 | 41.2 | 42.1 | 42.7 | 43.1 |
Balance Sheet
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Inventory | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Acc. Receivable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Cash | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Equity | 30844.0 | 31225.0 | 32436.0 | 32419.0 | 33713.1 | 38845.6 | 43996.9 |
| ROE, % | 14.2 | 15.8 | 15.6 | 14.9 | 15.0 | 13.2 | 11.7 |
| ROCE, % | 15.9 | 20.8 | 20.8 | 19.4 | 18.8 | 16.5 | 14.6 |
| Net Debt | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Gearing, % | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Equity ratio, % | 5.2 | 5.3 | 5.2 | 5.0 | 4.7 | 5.5 | 6.2 |
| Acc. Payable | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Total Assets | 594729.0 | 584700.0 | 623355.0 | 654350.0 | 712394.0 | 712394.0 | 712394.0 |
| ROA, % | 0.7 | 0.8 | 0.8 | 0.7 | 0.7 | 0.7 | 0.7 |
Cash Flow
| 2022 | 2023 | 2024 | 2025 | 2026 (e) | 2027 (e) | 2028 (e) | |
|---|---|---|---|---|---|---|---|
| Operating Cash Flow | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Investment Cash Flow | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Free Cash Flow | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| OCF/CAPEX | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Financial Cash Flow | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
Disclaimer
Risk Disclosure: Trading in financial instruments involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
The data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes.
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